Oil

Novorossiysk and a neighboring Caspian Pipeline Consortium terminal temporarily suspended oil exports, equivalent to 2.2 million barrels per day, or 2% of global supply, on Friday.

The strikes killed a Russian anti-tank crew and destroyed reconnaissance and surveillance equipment at the Syvash drilling rig in the Black Sea.

The exemption will last for one year and includes a Hungarian commitment to buy US liquefied natural gas with contracts valued at $600 million.

The initial batch of projects will include three water harvesting dams and three land reclamation initiatives, according to an Iraqi water resources official.

New Zealand insurance, Maritime Mutual, aids in the trade of billions of dollars of Iranian and Russian oil.

"We encourage our allies to join us in and adhere to these sanctions," Treasury Secretary Scott Bessent said in a statement announcing the sanctions.

Because Moscow has refused to pay, the shareholders have already turned to identifying and attaching Russian state assets abroad, subject to local sovereign-immunity rules.

No group has claimed responsibility for the attack.

Trump stated that he would next try to get China to do the same as Washington intensifies efforts to cut off Moscow’s energy revenues.

Yemen’s Houthis named Exxon, Chevron, and other US firms as targets, vowing attacks in the Red Sea despite a prior truce with Trump’s administration.